Toromont Industries Ltd (TSE:TIH) Receives C$70.00 Average PT from Brokerages

Toromont Industries Ltd (TSE:TIH) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$70.00.

A number of equities analysts recently issued reports on the company. CIBC upped their price target on Toromont Industries from C$68.00 to C$69.00 in a report on Friday, July 26th. BMO Capital Markets upped their price target on Toromont Industries from C$72.00 to C$74.00 in a report on Friday, July 26th. Royal Bank of Canada lowered their price target on Toromont Industries from C$65.00 to C$64.00 in a report on Monday, July 22nd. Raymond James reaffirmed an “outperform” rating and issued a C$75.00 price target on shares of Toromont Industries in a report on Friday, July 26th. Finally, Canaccord Genuity upped their price target on Toromont Industries from C$62.00 to C$64.00 and gave the company a “hold” rating in a report on Friday, July 26th.

TIH traded up C$0.49 on Wednesday, reaching C$62.52. The company’s stock had a trading volume of 72,708 shares, compared to its average volume of 138,058. The stock has a 50 day moving average of C$63.50 and a two-hundred day moving average of C$64.31. The company has a quick ratio of 0.61, a current ratio of 1.56 and a debt-to-equity ratio of 49.44. The company has a market capitalization of $5.06 billion and a price-to-earnings ratio of 19.00. Toromont Industries has a fifty-two week low of C$51.02 and a fifty-two week high of C$70.62.

In other news, Director Randall Casson sold 400 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of C$65.92, for a total value of C$26,368.00. Following the completion of the sale, the director now directly owns 129,600 shares of the company’s stock, valued at C$8,543,232. Also, Senior Officer Paul Randolph Jewer sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of C$66.10, for a total value of C$330,500.00. Insiders sold 8,500 shares of company stock valued at $560,149 over the last three months.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Analyst Recommendations for Toromont Industries (TSE:TIH)

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